Today was good example of a market fitting into the framework I showed over the weekend. Thought I would share it for the concepts it shows.
1) 'Value Migration' -- Concept is to try to trade with 'value migration' until an auction has ended.
2) 'B to E' / 'L toP' Framework of a market choosing a direction and staying with it until the afternoon.
Friday saw 'value' form near 1390.75. Today, the market traded below the previous days value and below the previous days low. When value is migrating up on the higher timeframe (uptrend) and price is below recent value, the play is to look long (below value) and target a play back to previous value. You are getting asymmetric location because price is below value during an upward value migration.
Note also how the market made its low during the mornign (B-E) and its high during the afternoon (L-P). This was a very classic structure day.
